ANNA Money vs Kroo
Side-by-side comparison — pricing, features, ratings, use cases. Find which Neobanks fits you best.
🔍 Independently researched ·
📊 Data-driven
· ⭐ Ratings from G2 (real user reviews)
73/100
Free tier
UK freelancers, contractors, and small business owners who want a no-nonsense, AI-assisted business account to handle in
★ Best
💰 Pricing
🆓 Free tier available
Free account with monthly fee waived if sufficient usage; otherwise subscription may be required
Fee notes:
- No monthly account fee for standard account
- FX conversion fee: 1% on transactions in non-GBP (or 1.5% if not using card? Please check)
- International payments: no fee for receiving, but FX spread applies
- ATM withdrawals: free in the UK, £1.50 or 2% for international (varies)
- Card replacement: £10 for standard, free for Premium (if applicable)
⚠ Watch for:
- FX markup of 1% on foreign currency transactions can add up
- International ATM withdrawal fees may be charged by ANNA plus any ATM operator fee
- If you need to upgrade for accounting features, costs can increase significantly
- Card replacement fee (if applicable) may not be disclosed upfront
🔧 Features
✓ Free Tier✓ Ai Assistant✓ Invoicing✓ Tax Reminders✓ Uk Business
📋 Assessment
💪 Strengths
- The AI assistant is the undeniable standout. You can simply type 'send invoice to John for £500' in the chat and ANNA drafts, sends, and tracks it. For expense management, photograph a receipt and it categorises it appropriately, extracting key data. This direct, conversational interaction genuinely reduces manual admin, which is the whole point of the product.
- The free plan includes a full business current account, a debit card, and unlimited invoicing with no monthly fees. That's a rare offering in the UK—most comparable neobanks charge £5-£10 per month for similar entry-level features. For a freelancer just starting, this zero-cost entry is a massive draw.
- Setup is frictionless. There's no hard credit check, so even those with poor or unestablished credit can open an account. In practice, this can be done in under an hour, often in minutes if your ID is ready. This accessibility opens the door for many who would be rejected by high-street banks.
- Tax deadline reminders are genuinely useful. ANNA tracks VAT and self-assessment dates, notifying you via the app so you don't miss submissions. This is a small but vital feature that helps avoid penalties, a tangible saving that offsets any perceived limitations.
⚠ Watch out for
- ANNA is not a regulated bank, so deposits are not FSCS protected. Instead, they are safeguarded under e-money regulations, which means if ANNA were to go bust, you might not get your money back as quickly or at all, though safeguarding is designed to protect it. For some, this lack of FSCS cover is a dealbreaker, especially for larger balances.
- There are no native integrations with popular accounting tools like Xero or QuickBooks. You can export statements manually, but you can't sync transactions. For freelancers who already rely on these platforms, this creates extra manual work that other neobanks often solve with seamless integration—a significant gap.
- The free plan feels limited once you have a few employees or contractors. Multi-user access, for instance, is only available on paid tiers, which start at £4.90 per month. Advanced invoice customisation is also locked behind the paywall, so your invoices will look generic until you upgrade.
- Customer support is chat-only, with no phone line. Response times can be slow during peak periods, and while the AI handles routine queries well, complex issues may require multiple back-and-forths. This can be frustrating if you need urgent help with a payment or card issue.
🎯 Best for
UK freelancers, contractors, and small business owners who want a no-nonsense, AI-assisted business account to handle invoicing, expenses, and tax deadlines without extra admin overhead.
🚫 Who should skip
Businesses that need international banking, integrated accounting software, or access to loans and overdrafts should look elsewhere.
📚 Learning curve
Minimal — the AI chatbot and simple setup make it easy to get started, even for beginners.
🧑⚖️ Verdict
ANNA Money is a solid choice for freelancers and new businesses who want a zero-cost business account with built-in invoicing and admin automation, especially if they value quick setup and don't require FSCS protection or deep accounting integrations. It's less suitable for established businesses wi
27/100
Free tier
Socially-minded UK users who want a free, FSCS-protected current account with built-in tools for splitting group expense
💰 Pricing
🆓 Free tier available
All features are included in the single free tier; no paid premium tiers exist.
Fee notes:
- Monthly account fee: £0
- Card payments abroad: no Kroo fee; exchange rate set by Mastercard
- ATM withdrawals: free at all ATMs in the UK and abroad, though the ATM operator may charge a fee
- International transfers: not currently offered; only UK Faster Payments available
- Card replacement: typically free, but expedited delivery may incur a fee
⚠ Watch for:
- Third-party ATM surcharges can apply when using non-branch ATMs, especially abroad
- Mastercard's exchange rate includes a small spread above the interbank rate, even though Kroo does not add a markup
- Expedited card delivery may cost a fee
- No foreign currency account, so payments in non-GBP are converted at Mastercard's rate
🔧 Features
✓ Free Tier✓ Social Banking✓ Joint Accounts✓ Group Expenses✓ Fscs Protected
📋 Assessment
💪 Strengths
- Kroo offers a completely free UK current account with no monthly fees, no transaction charges, and zero foreign transaction fees. This is rare among UK banks, and cutting the usual 'average market rate' markup on foreign card payments means you save money every time you use your card abroad. For frequent travelers or online shoppers who buy in foreign currencies, this benefit is substantial.
- FSCS protection up to £85,000 per person and a full UK banking license provide peace of mind that your money is safe, unlike some fintech startups that fail to offer such safety nets. Knowing your deposits are government-backed adds credibility and makes Kroo a safer choice for larger balances.
- The interest on your entire current account balance is a standout feature. Unlike traditional current accounts that pay almost nothing, Kroo pays a competitive variable rate that is calculated daily and credited monthly. This means your everyday spending money works for you, earning interest passively without needing to move funds into a separate savings account.
- The joint account and shared tabs feature is tailor-made for group spending. You can create a shared tab for rent, utilities, or a holiday kitty; add members; and seamlessly split expenses. Each transaction is tracked, and the app shows who has paid and who owes what, eliminating awkward money conversations and simplifying group finances.
- The app's user experience is polished and intuitive, with a clean design and instant notifications. Budgeting insights and spending categories help you track where your money goes, and the ability to freeze your card instantly via the app adds a layer of security. The onboarding process is purely digital, and you can apply for a joint account directly within the app.
⚠ Watch out for
- The lack of cash and cheque deposit facilities is a significant drawback. If you receive cash or cheques regularly, you cannot pay them into your Kroo account. You'll need another bank to deposit physical money, then transfer funds. This is a common neobank limitation, but it still makes Kroo inconvenient for those who rely on cash transactions.
- There is no overdraft facility or any credit products, such as loans or credit cards. For users who occasionally need a short-term buffer or want to build credit history, Kroo is not sufficient. It must be complemented with a traditional bank or credit union that offers credit facilities, making it less suitable as your sole financial provider.
- Kroo is UK-only, so you cannot hold balances in other currencies or access international banking features beyond the fee-free card payments. If you need a multi-currency account or want to manage funds in different denominations, you'll have to look at competitors like Revolut or Wise.
- The customer support options are limited to in-app chat and email, with no phone support. While the in-app chat is responsive during business hours, some users may find the lack of immediate human contact frustrating, especially for urgent issues like a lost card or suspected fraud.
- Kroo does not offer all the fintech extras that competitors have, such as savings pots, crypto trading, or insurance products. The feature set is intentionally focused, but if you are looking for an all-in-one financial hub, you might find it lacking.
🎯 Best for
Socially-minded UK users who want a free, FSCS-protected current account with built-in tools for splitting group expenses and earning interest on their balance.
🚫 Who should skip
Anyone who needs business banking, frequent cash deposits, an overdraft, or in-person branch support should look elsewhere.
📚 Learning curve
Minimal — the app is intuitive and built around a mobile-first, social banking experience.
🧑⚖️ Verdict
Kroo is a solid choice for UK users who value no fees, international spending, and social banking features like joint accounts and shared tabs for group expenses. It's perfect as a secondary bank or for sharing finances with others. However, if you need cash deposits, overdrafts, or multi-currency a
📊 Use Case Suitability
Higher score = better fit. Scores from editorial review.
Use CaseANNA MoneyKroo
Freelancer Invoicing92—
ANNA's AI assistant creates professional invoices from simple commands and sends
Tax Deadline Tracking90—
Built-in reminders for deadlines and automatic expense categorisation help self-
Expense Management85—
The AI categorises spending automatically and snapshots receipts, giving small b
Everyday Business Banking78—
It provides a functional UK business current account with a debit card, but lack
International Payments35—
International transfers carry higher fees and are not a core strength; you're be
Group Expense Splitting—95
Shared tabs let groups split bills and track who owes who in real time, making i
Joint Account Banking—90
Kroo's joint accounts give couples or housemates a transparent shared balance an
Everyday Spending with Interest—85
You earn a competitive variable interest rate on your entire current account bal
🧭 Which One Should You Pick?
Choose ANNA Money if...
- You are: UK freelancers, contractors, and small business owners who want a no-nonsense, AI-assisted business account to handle in
- 👍 AI assistant genuinely reduces admin by creating invoices and categorising expenses from simple chat
- 👍 Free tier includes a business account, debit card, and invoicing without ongoing monthly costs.
- 👍 Fast setup with no credit checks, making it accessible to new businesses and those with poor credit.
- 💰 Free tier available
- ⚠ Trade-off: Not a regulated bank, so funds are not FSCS protected; you're relying on e-money
Choose Kroo if...
- You are: Socially-minded UK users who want a free, FSCS-protected current account with built-in tools for splitting group expense
- 👍 Free UK current account with no monthly fees and no foreign transaction fees, even when used abroad.
- 👍 FSCS protection up to £85,000 per person, backed by a full UK banking license.
- 👍 Competitive variable interest on your entire account balance, paid monthly on a daily-calculated bas
- 💰 Free tier available
- ⚠ Trade-off: No cash or cheque deposits—you can't pay in physical money, which is limiting fo
❓ Frequently Asked Questions
Is ANNA Money really free?
Yes, ANNA Money offers a free business account with no monthly fee, including a UK sort code and account number, debit card, and basic invoicing. However, some features like international payments and cash deposits cost extra, and paid plans add advanced functionality.
What are ANNA Money's limits on the free plan?
The free plan includes a full UK business account with no monthly fee, but has limits on invoicing, card usage, and access to support. For example, you may pay per transaction or for cash deposits, and some advanced tools are only available on paid plans.
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